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prove that marginal utility of x=the price of commodity x.
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what is the theory of supply
types of elasticity of demand
how might opportunity cost help to explain the pattern of international trade?
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Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
1. Explain how the aggregate supply curve for the entire economy can be derived under; i. Classical assumption ii. Keynesian assumption 2. Explain how equilibrium can be a
The Budget Line The line BB gives the persons budget constraint. It is described by the linear equation c + wl = w; which can be rewritten as c = w - wl: The budget li
what do we mean by The narrowness of definition of the commodity.
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